LONMIN PLC - Platinum Mining - approaches first stage upside targets
Price declines were in free-fall last year even before Lonmin PLC announced its rights issue on the 9th November ’15. A US$407 million offering was a 94% per cent discount but was priced to prevent its collapse. What would Tiny Rowland have thought, we wonder? The company would sell 27 billion shares at 1.00 pence each to existing shareholders – this was compared to the 16.25 pence trading the previous Friday on the London Stock Exchange (LSE).Â
Is Lonmin worth the investment or still too risky? WaveTrack's analysis provides valuable insights into the next phase of development.
Lonmin is engaged in exploring, mining, refining and marketing platinum group metals (PGMs). Platinum is Co.'s principal product. Co.'s mining operations are located on the western limb of the Bushveld Igneous Complex in South Africa. Co. has one operational segment: PGM Operations, which comprises the activities involved in the mining and processing of PGMs, together with associated base metals, which are carried out entirely in South Africa. This segment also includes exploration and evaluation activities involved in the discovery or identification of new PGM deposits and the evaluation through pre-feasibility of the economic viability of newly discovered PGM deposits.
WaveTrack International provides bespoke intelligence for Asset Management Corporations, Pension Funds, Total/Absolute-Return/ Hedge Funds, Sovereign Wealth Funds, Corporate and Market-Making/Trading institutions. The ‘deterministic’ qualities of the methodology used often translates into results that are dynamic and – outside consensus estimates. This is suitable for individuals who seek unbiased market research which is ‘technical, quantitative and strategic’ for their investment decision making. WaveTrack’s analysis and research is especially relevant for medium/long-term investment strategies.
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